Zak Brown has said discussions about the Concorde Agreement are still in the very early stages with the new agreement set to come in force in 2026.
The Concorde Agreement is the contract between the FIA, FOM and F1 teams and determines how the sport is run and how its television revenues and prize money is shared.
Renewing the contract can often be a tricky task to achieve with each party having its own wants and desires which do not always line up with each other.
Zak Brown: New F1 Concorde Agreement discussions beginning to be thought about
Even three years out, hints have been made about what certain team principals are after, namely a rise in the current anti-dilution fund which is set at $200 million.
F1 president Stefano Domenicali stressed in April that he hoped for a quick negotiation for the new deal and McLaren CEO Brown has revealed the first step in the process has begun.
“We’re starting to talk about starting to talk about it,” he told media including PlanetF1.com ahead of the British Grand Prix. “So there are no significant conversations going on at the moment.
“From my point of view, I think the sport is working really well so there’s a lot to discuss.
“I think we should just kind of continue. Maybe a little bit of refinement here and there but ultimately [we are] waiting to be formally approached to start conversations.”
The subject of a possible 11th team was a recurrent topic ahead of the Silverstone race with Mercedes boss Toto Wolff again reiterating his opposition to the idea, and Brown said the most important part of any bid is what they bring to the table.
“There’s been a lot of debate about this and everyone has an opinion but there’s really only two entities that make the decision, Formula 1 and the FIA,” the American said. “So I think everything has been submitted to them.
“From my point of view, I think it’d be easiest if they bought one of the [existing] 10 teams but to me, it’s all about bringing something to the sport.
“What are they bringing to the table? What’s the appropriate size franchise fee? I think when we started this journey five, six years ago, the sport was radically different. So let’s see what happens.”